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Moneyboxx Finance Limited, a non-banking financial institution that is publicly traded on the Bombay Stock Exchange (BSE), has successfully generated Rs 271 crore by issuing new shares of stock.
The allocation of funds was authorised during a board meeting held on July 17, 2024. The increase in funds will be achieved by raising Rs 158 crore through a preferential equity offering and Rs 113 crore through equity warrants, which will be offered to both promoters and non-promoters.
Moneyboxx's financial position is anticipated to be strengthened and its expansion goals, namely in offering business loans to micro entrepreneurs in Tier III regions and lower, are likely to be supported by the cash infusion.
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An infusion of up to Rs 186 crore of capital is anticipated to occur by August of this year. This will increase the impact lender's current capital base to more than Rs 350 crore, more than twice its previous amount.
Moneyboxx underwent a conversion to a public limited company in 2014 and then changed its name to Moneyboxx Finance Ltd in 2019. The non-banking financial company (NBFC) offers both secured and unsecured business loans specifically targeted at small entrepreneurs, with a particular emphasis on women, livestock rearing communities, and individuals who are new to borrowing.
About Moneyboxx
Founded in 1994 by MAYUR MODI, Moneyboxx is a RBI registered NBFC providing small business loans to micro- micro entrepreneurs in Tier 3 and beyond cities in India. We aim to impact one million lives in next 5 years.
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